Intel, IBM, Oracle, and IonQ have objected to plans by cryptocurrency exchange, OKX, and Intercontinental Exchange (ICE), to offer tokenized versions of their U.S.-listed shares, bringing the number of opposing companies to 26, according to an updated regulatory notice.
The proposed OKXICE platform aims to enable trading of tokenized U.S. stocks around the clock on-chain.
Under a U.S. Securities and Exchange Commission framework, companies can block third-party tokenized listings by objecting during a 30-day notification period. The latest objections add to resistance from companies including
Microsoft,
Alphabet,
Intuit
Goldman Sachs, and
Wells Fargo
among others.
INSTITUTIONAL | Microsoft, Alphabet, Qualcomm, Goldman Sachs Join Opposition to OKX-ICE Tokenized Stock Trading
The notices do not specify the reasons for the objections.
The growing opposition highlights a challenge for tokenized securities which proponents say could enable extended trading hours and faster settlement but must still address issuers’ rights and regulatory protections.
INSTITUTIONAL | Why Major U.S-Listed Companies are Opposing New York Stock Exchange Tokenization Plans
Stay tuned to BitKE for crypto developments globally.
Join our WhatsApp channel here.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
__________